First-Year Review
Vanguard Emerging Markets ex-China returned 27.4%; iShares MSCI ex China returned 48.6%
Vanguard Emerging Markets Ex-China ETF
$96.22−0.10 (−0.11%)
- 0.07%
- $269M
- +31.2%
- 0M sh
- $95.76
- low $75.68high $98.79
The ETF.net VEXC Grade
A
Score 83 out of 100
- 1 of 22
Score 83 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A100 out of 100Rank 1 of 22Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 17Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A75 out of 100Rank 1 of 22Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B65 out of 100Rank 4 of 22Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C44 out of 100Rank 13 of 19Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B57 out of 100Rank 11 of 22
Our read on VEXC
AVanguard's emerging markets, China removed. Same index-tracking discipline, 0.07% a year, a fraction of what the typical EM fund charges. Ex-China is no longer a niche idea; this is the cheap way to own it.
The fund invests in emerging-market stocks while excluding China and seeks to closely track the FTSE Emerging ex China Index.
Why people hold it
- Charges 0.07% a year against a 0.49% median for emerging-markets funds, and undercuts the other top-graded names in the group, including XCEM at 0.16% and BKEM at 0.11%.
- Rules-based, not opinion-based: it tracks the FTSE Emerging ex China Index, so the China carve-out is written into the mandate rather than left to a manager's discretion.fund-docs.vanguard.com
- Splitting China out of emerging markets puts the sizing decision in your hands instead of accepting whatever weight a broad EM index assigns. Pays quarterly.investor.vanguard.com
- Ranks among the strongest implementations in its emerging-markets peer group on the things we measure: cost, mandate clarity, index discipline.
Worth knowing
- Launched in 2025 and still thinly traded, so it lacks the trading heft of the giant EM funds. Spreads can be wider than the Vanguard name suggests.
- Excluding an entire country by rule means results will drift away from broad EM funds, in both directions, depending on how China does.
- The remaining basket screens more concentrated than most funds in the category, so a handful of countries and sectors drive much of the outcome.
VEXC Holdings
- Stocks
- 1,017
- 34%
- 2330.TW
Geography
- Taiwan (Province of China)44.99%
- India21.49%
- Brazil5.79%
- South Africa4.62%
- Saudi Arabia4.42%
- Mexico3.04%
- Malaysia2.15%
- United Arab Emirates1.89%
- 11.61%
Developed 0% · Emerging 100%
VEXC Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
VEXC$13,125
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | VEXC |
|---|---|
| Year to date | +23.0% |
| 1 month | −0.5% |
| 3 months | +1.4% |
| 1 year | +31.2% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | VEXC |
|---|---|---|
| 2026 YTD | +23.0% | |
| 2025 | +4.8% |
VEXC in the news
VEXC Dividends
- $0.54 per share
- Quarterly
Distribution data unavailable.
Distribution history
VEXC Risk
- —
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- —
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −12.4%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.14
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
VEXC Cost
0.07%
VEXC0.07%
- The middle half of Emerging Markets Stocks funds
- Median 0.53%
No Emerging Markets Stocks fund charges less.
Other funds in Emerging Markets Stocks
- AXCEMColumbia EM Core ex-China ETFExpense ratio 0.16%1 year return +45.9%
- ABKEMBNY Mellon Emerging Markets Equity ETFExpense ratio 0.11%1 year return +29.5%
- AXSOEWisdomTree Emerging Markets ex-State-Owned Enterprises FundExpense ratio 0.32%1 year return +27.3%
- AEEMAiShares MSCI Emerging Markets Asia ETFExpense ratio 0.49%1 year return +30.0%
- BGMFState Street SPDR S&P Emerging Asia Pacific ETFExpense ratio 0.49%1 year return +16.5%